Energy Assets buys electric meter firm for £2.3m

GARETH MACKIE

Gas meter supplier Energy Assets has struck a £2.3 million deal to move into the electricity sector by acquiring B Global Metering.

The Livingston-based firm said the acquisition would boost the number of meters for which it collects data to about 152,500, covering the gas, electricity and water markets.

Today’s deal comes just a week after Glasgow-based rival Smart Metering Systems made a similar move by paying £14m for Utility Partnership.

Energy Assets chief executive Phil Bellamy-Lee said: “This transaction enables Energy Assets to expand its presence into the electricity sector and is a significant step in the delivery of the group’s strategy to offer services across a multi-utility platform.”